Live-Work Space with
For Sale
$490,000
2906 Dixie Hwy, Louisville, KY 40216
C1-zoned property pairs a warehouse and office with a renovated bungalow for integrated business and residential use.
Property Size4,000 SF
Lot Size0.41 Acres
Price / SF$122.50
Days on Market194
Property Features for 2906 Dixie Hwy
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.41 Acres
Property subtype
Investment
Zoning
C1
Additional Details
Road Access
Yes
Building Details
Year Built
1948
Buildings
2
Listing Agency:
EXP Realty LLC
(502) 558-8193
Listed By:
Ethan Adams · License #244623
(502) 558-8193
Source:
Kcrea.resimplifi
Added: Feb 19
Changed: Aug 30
Last Checked: Aug 31 at 1:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
Investment Insights
Based on property information with market context.
This C1-zoned live-work property combines a warehouse, finished office area, and renovated bungalow in one flexible arrangement. The residence includes four bedrooms, two updated full bathrooms, a living room with a wood-burning fireplace, dining space, and an updated kitchen with white shaker cabinets, granite countertops, and a tile backsplash. New LVP flooring extends through nearly the entire home, while a covered front porch, attic storage, and unfinished basement add functional space.
The warehouse provides dedicated room for business operations alongside the residence, with the separate finished office positioned for convenient day-to-day use. The property encompasses .41 acres and includes 4,000 of property size, with construction dating to 1948. Located at 2906 Dixie Hwy in Louisville, the site offers a combined commercial and residential configuration under C1 zoning.
The warehouse provides dedicated room for business operations alongside the residence, with the separate finished office positioned for convenient day-to-day use. The property encompasses .41 acres and includes 4,000 of property size, with construction dating to 1948. Located at 2906 Dixie Hwy in Louisville, the site offers a combined commercial and residential configuration under C1 zoning.
Key Highlights
- C1 zoning supports the property's live‑work configuration
- Warehouse includes a finished, separate office area
- Renovated bungalow offers four bedrooms and two updated full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,426
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,520
$648.5K
Cap Rate 7%
$463,229
$463.2K
Cap Rate 9%
$360,289
$360.3K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.8K $10.20/SF
− Vacancy
−$2.7K −$0.66/SF
EGI
$38.1K $9.54/SF
− OpEx
−$5.7K −$1.43/SF
NOI
$32.4K $8.11/SF
Area
ZIP 40216
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$648,520
Cap Rate 7%
$463,229
Cap Rate 9%
$360,289
Alternative Uses
Best Use
Flex RnD
$779.1K
$681.7K – $909.0K
NOI $54,538 @ 7.0% cap · market cap 11.13%
Second Best
Mixed Use
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 11.02%
Theoretical Best
Office A
$1.03M
$897.6K – $1.20M
NOI $71,808 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 40216, KY
43,434
Population
19,257
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
87%
High-School Grad
15.7 sq mi
ZIP Area
2,766
Density / Sq Mi
$50,211
Median Household Income
$35,503
Median Earnings
$883
Median Rent
$154,500
Median Home Value
Market
Vacancy Rate% for Office in Louisville, KY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - C1-zoned property pairs a warehouse and office with a renovated bungalow for integrated business and residential use.
Where is this live-work space located?
The property is located at 2906 Dixie Hwy Louisville, KY.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: C1 zoning supports the property's live‑work configuration; Warehouse includes a finished, separate office area; Renovated bungalow offers four bedrooms and two updated full bathrooms
